Category: Southeast Texas Deals & Announcements

An H-E-B-anchored retail center in northeast Houston traded hands this week. An H-E-B-leased retail property going on the market is a rarity, but this deal is far from the only noteworthy grocery-anchored retail sale in the works.

The 101,791-square-foot H-E-B at the Market at Lake Houston Parkway in Atascocita sold for an undisclosed price to Los Angeles-based Westwood Financial Corp., a grocery-facing REIT, according to statement from HFF.

Current Standing Development has big plans for a mid-century modern office building in the heart of Midtown.

The Houston real estate firm, formerly known as PLC Capital Corp., plans to start renovation work this fall on the former Greensheet building, a 50,000-square-foot office building at 1000 McGowen Street, across from the Midtown “Super Block” Park. The four-story office building, which currently houses the weekly shopper paper, will be transformed into a mixed-use office, retail, bar and rooftop event space, said Brent Friedman, president of Current Standing.

Caydon Property Group has acquired more land in Midtown for a mixed-use project anchored by a luxury apartment tower.

The Melbourne, Australia-based developer purchased a 41,000-square-foot site on a half city block bounded by Main, Dennis and Fannin streets. Current Standing Developments — formerly known as PLC Capital Corp. — sold the property to Caydon for an undisclosed amount. The deal closed on Aug. 2.

Minnesota-based Best Buy Co. Inc. (NYSE: BBY) is on the hunt for industrial space in Houston between 500,000 square feet and 600,000 square feet, multiple sources close to the deal told the Houston Business Journal.

Avison Young’s Jeff Lindenberger, who’s representing Best Buy, confirmed that the company’s looking in Houston but declined to comment further.